On results of inspection of financial standing of Interactive Bank Ltd. by provisional administration

The provisional administration of Interactive Bank Ltd. appointed by Bank of Russia Order No. OD-1351, dated 26 April 2016, following revocation of its banking licence detected in the course of examination of the bank’s financial standing transactions carried out by Interactive Bank Ltd. former management which bear the evidence of moving out assets through acquiring promissory notes of a liquidated company, extending loans and reassigning loan debt claims to companies not capable of fulfilling their liabilities and also bearing the evidence of institutions not involved in real economic activities worth over 1.4 billion rubles.

Besides, the provisional administration detected the transactions aimed at hiding the information on moved out assets through recording in fact missing securities worth about 0.3 billion rubles.

According to estimates by the provisional administration, the total asset value of Interactive Bank Ltd. does not exceed 0.8 billion rubles, while its liabilities to creditors amount to 2.6 billion rubles.

On 4 August 2016, the Court of Arbitration of the city of Moscow took a decision to recognise Interactive Bank Ltd. insolvent (bankrupt) and initiate bankruptcy proceedings with the state corporation Deposit Insurance Agency appointed as a receiver.

The Bank of Russia submitted the information on the financial transactions bearing the evidence of criminal offences conducted by the former management and owners of Interactive Bank Ltd. to the Prosecutor General’s Office of the Russian Federation, the Russian Ministry of Internal Affairs and the Investigative Committee of the Russian Federation for consideration and procedural decision making.

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14.09.2016 00.00.00